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Religare stock loses 5%, down 85% in 2017

Fri, Sep 08 2017, 01:18 PM

Shares of Religare Enterprises, the holding company of the financial services business of Malvinder Singh and Shivinder Singh, declined 5% yesterday amid heavy trading. The stock is now down 85% for the year. The June-end shareholding data of Religare shows the promoters, who are battling legal troubles from the sale of their pharma company Ranbaxy, hold 87% in the company, but 45% of it is pledged. IDBI Trusteeship Services, on September 1, said it had invoked 1.22% of Religare shares.